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How is the UK's international trade recorded?


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Current account
The balance of trade in goods and services plus net investment incomes from overseas assets
Balance of trade in goods
The export of goods from the primary and secondary sectors minus the imports of these goods
Balance of trade in services
The export of tertiary sector services minus the import of these services
Balance of Payments
The record of our transactions with the rest of the world
Current account deficit
The value of imports exceeds the value of exports
Current account surplus
The value of exports exceeds the value of imports
Productivity
Output per worker - often used as a factor behind the UK deficit
Innovation
Spending on R&D - often used as a factor behind the UK deficit